Argand Energy and Trina Solar bring 453 kW Solar Project to Completion in Wake
County without the SunSense Incentive
CHANGZHOU, China and CHARLOTTE, N.C., Oct. 17, 2013
CHANGZHOU, China and CHARLOTTE, N.C., Oct. 17, 2013 /PRNewswire/ --Trina
Solar Limited (NYSE:TSL) ("Trina Solar" or "the Company"), a global leader in
photovoltaic modules, solutions and services, and Argand Energy announced
today the completion of a 453 kW solar PV system on the rooftop of Exhibit
Resources in Raleigh.This project, commissioned in July, is one of the few
third-party owned commercial rooftop projects completed in North Carolina
without the SunSense incentive.
Argand Energy led the development and financing efforts for this project
overcoming two significant obstacles.The first was securing an investor to
take advantage of the 35% state tax credit offered by North Carolina.N.C.
state tax credit investors are scarce and those that can monetize the credit
typically prefer to deal with larger projects to keep transaction costs
down.Argand was able to tap into its extensive network of financing partners
to bring in a high net worth individual willing to come into a deal of this
size.The second obstacle involved overcoming the loss of the SunSense
incentive when the program was cancelled late in 2012 by Duke Energy.
"The loss of the SunSense incentive changed the project economics," said Rob
Lease, VP of Sales at Argand Energy."But we had a dedicated team and a
committed host site and wanted to see the project come to fruition. We worked
closely with our development team, our financier, and our partners at Trina
Solar to rework the numbers.With some creativity, we were able to make the
project pencil for all sides."
As host of the solar energy system, Exhibit Resources benefits from an annual
payment from the financier for leasing the roof space. In addition, the
company can choose to purchase the system at the end of the 20 year term if
they would like. Until then, the electricity generated from the project will
be sold to Duke Energy.
"We are proud to be hosting this solar project," said Lana Calloway, CEO of
Exhibit Resources."Our company has always been committed to sustainability
and this project furthers our commitment to investing in a cleaner North
Carolina and also provides an educational opportunity for our customers. The
Argand team was extremely helpful throughout the process."
"This project demonstrates the importance of working with stable, trusted
partners," said Mark Mendenhall, President of Trina Solar Americas.
"High-quality Trina Solar panels sit atop the Exhibit Resources roof because
the partners involved understand the solar industry and have the resources to
bring projects to a successful completion."
About Trina Solar
Trina Solar Limited (NYSE:TSL) is a global leader in photovoltaic modules,
solutions and services. Founded in 1997 as a PV system integrator, Trina Solar
today drives smart energy together with installers, distributors, utilities
and developers worldwide. The company's industry-shaping position is based on
innovation excellence, superior product quality, vertically integrated
capabilities and environmental stewardship. For more information, please visit
About Argand Energy
Argand Energy Solutions is a full service solar development and finance firm
that provides cost-effective, quality, and innovative solar energy services to
a variety of entities including commercial, government, educational, and
residential customers as well as financiers. Our solutions are tailored to
client needs and include project development, financing, system design,
installation, and on-going maintenance and support.Since 1999, Argand has
pioneered the development of over 200 solar photovoltaic solar projects across
the East Coast. For more information, please visit www.argandenergy.com.
About Exhibit Resources
Exhibit Resources is a woman-owned, full-service exhibit design and production
agency in Raleigh, NC. For over twenty years, Exhibit Resources has provided
branded environments including custom trade show exhibits, modular and
portable display systems, rental options, high-end corporate interiors and
retail kiosks that exceed global and domestic clients' expectations. Exhibit
Resources has exceeded client expectations globally while becoming a
stakeholder in the success of their clients' marketing objectives by
specializing in flawless customer service, award-winning designs and
exceptional trade show program management. For more information, please visit
For further information, please contact:
Trina Solar Limited
Terry Wang, CFO Brunswick Group
Phone: + (86) 519-8548-2008 (Changzhou) Ilse Schache
Phone: + (86) 10-6566-2256
Investor Relations Email: email@example.com
Phone: +(86) 519-8517-6093 (Changzhou)
Rob Lease, Vice President of Sales
Phone: + (1) 919-795-5611
SOURCE Trina Solar Limited
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